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Economic Development

Newton Housing Development Corporation Update

Here are updates from our partner, Newton Housing Development Corporation, for the month of October.

In Fountain Hills, the sale of the newest spec home is pending and should close in November. Venture Homes is considering starting another spec home this year.

In Cardinal Ridge, two units have closed and two units are pending sale. Ground Breaker Homes has purchased an additional lot.

In Bradford Estates, a new builder has purchased all four lots from the bank.

In Fairmeadows North, two houses have closed, two custom homes are under construction and a spec home is under construction. There is an additional lot that has been sold and a lot that is pending sale.

Farrell Properties is building two spec homes on S 11th Ave W near Maytag Park.

The master plan for the Barton Land that NHDC owns has been completed by Bolton & Menk.

Since July 1, 2014 there have been a total of 55 units permitted; 39 have been sold, six are pending sale, eight are under construction or for sale and two lots have not had development started on them yet.

There is an uptick in downtown housing including second story units in various buildings, Hotel Maytag, the Lion Development project and interest in creating apartments in Legacy Plaza.